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Effective analysis of Consumer behavior towards Investment Plans & Products of SBI Life Insurance, Bhubaneshwar

Internship Report



Submitted to:

Submitted by: Saptarshi Saha

Faculty: Prof. Sujit Mukherjee

MBA (Marketing)



This is to certify that Internship Report

entitled Effective analysis of under the fulfillment of the

Consumer behavior towards Investment Plans & Products of SBI Life Insurance, guidance of has been submitted by Prof. sujit Mukherjee in as Saptarshi saha a partial

Postgraduate Program Management sciencce .



from Bhavans Institute of

Principal Dr.Santanu Sinha__________________________

Bhavans Istitute of Management Science


Training is an exercise by means of which student earn a lot of things which cannot be taught in the class room. During training students come to know about the principles and practices of management application in real working condition in the organization. The project undertaken by her in SBI Life Insurance Company Ltd, Kota, Titled Effective analysis of Consumer behavior towards Investment Plans & Products of SBI Life Insurance, Bhubaneshwar The project on evaluation fulfills all the stated criteria and the students achievements and findings are her original work. During the training period, I have found her to be hardworking, since and punctual. She was also found too diligent, corporative and well disciplined.

Saptarshi saha Asst. Branch Manager SBI Life Insurance Co. Ltd. Bhubaneshwar


I hereby declare that the present report entitled

Effective analysis of

Consumer behavior towards Investment Plans & Products of SBI Life Insurance, is based on my original work / publication has been duly acknowledged at relevant places.



Consumer behavior is a vast and complex thing in todays world. Understanding consumer behavior & knowing consumer are not that simple. It is almost impossible to predict with one hundred percent accuracy. The success or failure in this pursuit determines the difference between success & failure of marketing efforts or even the business itself.

Consumers are moved by a complex set of deep of subtle emotions. Their behavior springs from deeply held values & attitude their perception of the world & their place in it from commonsense, impulse or whimsy. All this in the outcome of a large number of external & internal influence .

Behind every mans fruitful endeavor like advice, guidance & inspiration from all possible sources lay the efforts of all those worthy people who lend their help directly or indirectly.

Contrary to popular belief, preparing a project is not a solo activity. Many people collaborate, assist and guide in the production of a project. Several people are involved in sharing ideas & producing this project. Some of deserves special mention.

It is extremely difficult to thank individually the numerous fellow persons who patronized this project report. Indeed I cannot completely describe their support to me but it is only a very small attempt to show my gratification to them. I feel pleasure for paying completely hearty gratitude to them. It is a great privilege & honor to have an opportunity to undertake training at SBI Life Insurance Company.

I pay my sincere thanks to Mr.Nishant (HR Manager) for giving me an opportunity for training in the company

I feel indebted to Mr. Santanu sinha(principal) , & Prof. Sujit Mukherjee (Faculty) for valuable suggestions for bringing out this report.

To a great extent I am very thankful to all my faculties & colleagues. Last but not the least my sincere thanks to the almighty for all he has given me.

In todays corporate and competitive world, I find that insurance sector has the maximum growth and potential as compared to the other sectors.

Insurance has the maximum growth rate of 70-80% while as FMCG sector has maximum 12-15% of growth rate. This growth potential attracts me to enter in this sector and SBI LIFE INSURANCE has given me the

opportunity to work and get experience in highly competitive and enhancing sector.

Companies now are tapping a lot of ways to capture the market and hence adopting different ways to hold the large portion of the market.

My training learning helped me a lot to complete my project in order to learn a lot of things of the corporate. As a project trainee the first task given to me was to understand the basic behavior of the consumer in order to manipulate the market according to our target competition. For questionnaire and I did my survey in Bhubaneshwar city. this I developed a

This job training also helped me a lot in understanding the process of building effective marketing channels for life insurance products by

establishing network of life insurance advisors.

The success story of good market share of different market organizations depends upon the availability customer, Insurance which can be sector, of the product and services through includes a distribution only near to the In or

distributed channel




agency holders of the company. If a company like SBI LIFE INSURANCE, LIC, ICICI PRUDENTIAL, RELIANCE LIFE INSURANCE, TATA AIG, MAX etc. has adequate agents in the market, they can capture big market as compared to the other companies.

I have pleasure in submitting this report Effective analysis on Consumer behavior towards Investment Plans & Products of SBI Life Insurance.













Chapter I


Insurance is a policy from a large financial institution that offers a person, company or other entity reimbursement or financial protection against possible future losses or damages.

Insurance may be described as a social device to reduce or eliminate risks of loss to life and property. It is a provision, which a prudent man makes against inevitable contingencies, loss or misfortune.

Under a plan of insurance, a large number of people associate themselves by sharing risks attached to individuals. As in private life, in business also there are dangers and risks of different kinds. The aim of all type of insurance is to make provision against such dangers. The risks, which can be insured against, include fire, the perils of sea (marine insurance), death (life insurance) and accidents. Any risk contingent upon these may be insured against at a premium a commensurate with the risk involved. Thus, collective bearing of risks is insurance.

Insurance business is divided into four classes, such as Life Insurance, Fire, Marine and Miscellaneous Insurance.

Insurance is a plan by which large number of people associate themselves and transfer to the shoulders of all, risks that attach to individuals. John Magee 1

Insurance is a provision which a prudent man makes against for the loss or inevitable contingencies, loss or misfortune. Thomas


Protection to investor. Accumulation of savings. Old age pensions Tax benefits

Functions of insurance:

Provide Protection: The primary function of insurance is to provide protection against future risk, accidents and uncertainty. Insurance cannot check the happening of risk, but can certainly provide for the losses of risk. Insurance is actually a protection against economic loss, by sharing the risk with others.

Collective bearing of risk:

Insurance is an instrument to share the

financial loss of few among many others. Insurance is a mean by which few losses are shared among larger number of people. All the insured contribute the premiums towards a fund and out of which the persons exposed to a particular risk is paid.

Assessment of risk:

Insurance determines the probable volume of

risk by evaluating various factors that give rise to risk. Risk is the basis for determining the premium rate also.

Provide certainty: Insurance is a device, which helps to change from uncertainty to certainty. Insurance is device whereby the uncertain risks may be made more certain.









businessmen from security investments, by paying small amount of premium against larger risks and uncertainty.






Insurance industries:

provides development opportunity to those larger industries having more risks in their setting up. Even the financial institutions may be prepared to give credit to sick industrial units which have insured their assets including plant and machinery.

Means of savings and investment:

Insurance serves as savings and

investment, insurance is a compulsory way of savings and it restricts the unnecessary expenses by the insured's For the purpose of availing income-tax exemptions also, people invest in insurance.

Source of earning foreign exchange:

Insurance is an international

business. The country can earn foreign exchange by way of issue of marine insurance policies and various other ways.

Risk free trade: Insurance promotes exports insurance, which makes the foreign trade risk free with the help of different types of policies under marine insurance cover.

Life insurance may be defined as a contract in which the insurer, in consideration of a certain premium, either in a lump sum or by other periodical payments, agrees to pay the assured, or to the person for whose benefit the policy is taken, the assured sum of money, on the happening of a specified event contingent on the human life.

Life insurance is a contract under which the insurer (Insurance Company) in consideration of a premium paid undertakes to pay a fixed sum of money on the death of the insured or on the expiry of a specified period of time Whichever is earlier. In case of life insurance, the payment for life insurance policy is certain. The Event insured against is sure to happen only the time of its happening is not known. So life insurance is known as Life Assurance. The subject matter of insurance is life of human being. Life insurance provides risk coverage to the life of a person. On death of the person insurance offers protection against loss of income and compensate the titleholders of the policy. 4

ROLE OF LIFE INSURANCE: Life insurance as an investment: Insurance products yield more than any other investment instruments and it also provides added incentives or bonus offered by insurance companies.

Life insurance as risk cover: Insurance is all about risk cover and protection of life. Insurance provides a unique sense of security that no other forms of invest can provide.

Life insurance as tax planning: Insurance serves as an excellent tax saving mechanism too.


Protection against untimely death: Life insurance provides protection to the dependents of the life insured and the family of the assured in case of his untimely death. The dependents or family members get a fixed sum of money in case of death of the assured.

Saving for old age: After retirement the earning capacity of a person reduces. Life insurance enables a person to enjoy peace of mind and a sense of security in his/her 5

Promotion of savings: Life insurance encourages people to save money compulsorily. When life policy is taken, the assured is to pay premiums regularly to keep the policy in force and he cannot get back the premiums, only surrender value can be returned to him. In case of surrender of policy, the policyholder gets the surrendered value only after the expiry of duration of the policy.

Initiates investments: Life Insurance Corporation encourages and mobilizes the public savings and canalizes the same in various investments for the economic development of the country. Life insurance is an important tool for the mobilization and investment of small savings.

Credit worthiness: Life insurance policy can be used as a security to raise loans. It improves the credit worthiness of business.

Social Security: Life insurance is important for the society as a whole also. Life insurance enables a person to provide for education and marriage of children and for construction of house. It helps a person to make financial base for future.

Tax Benefit: Under the Income Tax Act, premium paid is allowed as a deduction from the total income under section 80C. 6

Insurance of the non-life assets are called general insurance, this includes loss of asset against water, fire, earthquake etc. With the opening up of the Indian Market in Insurance sector for private players, in General Insurance the monopoly of the general Insurance public sectors companies has been broken. With the entrance of the new private player market innovative technique has been introduced to capture the market. In general the private players have captured Insurance around 17% of the market.

General Insurance is a sector, which alone has many type of insurance coverage in it like Fire Insurance, Marine Insurance, motor Insurance, Liability Insurance, Engineering Insurance etc.


The insurance sector in India has completed all the facets of competition from being an open competitive market to being nationalized and then getting back to the form of a liberalized market once again. The history of the insurance sector in India reveals that it has witnessed complete dynamism for the past two centuries approximately.

Life insurance came to India from England in 1818 when oriental life insurance company started in Calcutta by Europeans. After this many insurance companies had been started in India. But these companies were looking after only the needs of European community established in India. These companies were not insuring Indian people. First Indian life insurance company came as Bombay mutual life insurance assurance. Second company was Bharat insurance company came in 1896. After this the united India in madras, national Indian and national insurance in Calcutta and the co-operative assurance in Lahore were established in 1906.

To regulate Indian insurance business first insurance act came in 1912 as life insurance company act and provident fund act. These acts consist of premium rates tables and periodical valuations of companies. In the first two-decade of 20th century many life insurance companies were started. So the insurance act came in 1938 to governing life and non life insurance companies and to provide strict state control. 8

In 1956 the life insurance business in India was nationalized. In 1956 life insurance corporation of India (LIC) was created to spreading life insurance much more widely particularly in rural areas. In that year LIC had 5 zonal offices, 33 divisional offices and 212 branch offices. In 1957 the business of LIC of sum assured of 200crores, 1000crores in 1970, and 7000crores in 1986.

Important milestones in the Indian life insurance business: 1912: The Indian Life Assurance Companies Act came into force for regulating the life insurance business. 1928 : The Indian Insurance Companies Act was enacted for enabling the government to collect statistical information on both life and non-life insurance businesses. 1938: The earlier legislation consolidated the Insurance Act with the aim of safeguarding the interests of the insuring public 1956: 245 Indian and foreign insurers and provident societies were taken over by the central government and they got nationalized. An Act of Parliament, viz. LIC Act, 1956, formed LIC. It started off with a capital of Rs. 5 crore and that too from the Government of India.

Important milestones in the Indian general insurance business: 1907: The Indian Mercantile Insurance Ltd. was set up which was the first company of its type to transact all general insurance business. 1957: General Insurance Council, an arm of the Insurance Association of India, framed a code of conduct for guaranteeing fair conduct and sound business patterns. 1968: The Insurance Act improved for regulating investments and set minimal solvency levels and the Tariff Advisory Committee was set up. 1972: The General Insurance Business (Nationalization) Act, 1972 nationalized the general insurance business in India. It was with effect from 1st January 1973. 107 insurers integrated and grouped into four companies viz. the National Insurance Company Ltd., the New India Assurance Company Ltd., the Oriental Insurance Company Ltd. and the United India Insurance Company Ltd. GIC was incorporated as a company.



In 1999, the Insurance Regulatory and Development Authority (IRDA) were constituted as an autonomous body to regulate and develop the insurance industry. The IRDA was incorporated as a statutory body in April 2000. The key objectives of the IRDA include promotion of competition so as to enhance customer satisfaction through increased consumer choice and lower premiums, while ensuring the financial security of the insurance market. The IRDA opened up the market in August 2000 with the invitation for application for registrations. Foreign companies were allowed ownership of up to 26%. The Authority has the power to frame regulations under Section 114A of the Insurance Act, 1938 and has from 2000 onwards framed various regulations ranging from registration of companies for carrying on insurance business to protection of policyholders interests.

Protecting the interests of policyholders.

Establishing guidelines for the operations of insurers and brokers. Specifying the code of conduct, qualifications, and training for insurance intermediaries and agents. Promoting efficiency in the conduct of insurance business. 11

Regulating the investment of funds by insurance companies. Specifying the percentage of business to be written by insurers in rural sectors. Handling disputes between insurers and insurance intermediaries.


IRDA has tilled now provided registration to 12 private life insurance companies and 9 general insurance companies. If the existing public sector insurance companies are considered then there are presently 13 insurance companies in the life side and 13 companies functioning in general insurance business. General Insurance Corporation has been sanctioned as the "Indian reinsurer" for underwriting only reinsurance business.



SBI Life Insurance Company Ltd SBI Life Insurance is a joint venture between State Bank of India and BNP Paribas Assurance SBI owns 74% of the total capital and BNP Paribas Assurance the remaining 26%. SBI Life Insurance has an authorized capital of Rs.2,000 crore and a paid up capital of Rs.1,000 crore. State Bank of India enjoys the largest banking franchise in India. Along with its 6

Associate Banks, State Bank Group has the unrivalled strength of over 16,000 branches across the country, arguably the largest in the world. BNP Paribas is the 1st largest French company and ranks 5 industry worldwide, 1 It is 6 2008. BNP Paribas Assurance is the insurance arm of BNP Paribas - Euro Zones leading Bank. BNP Paribas, part of the worlds top 10 groups of banks by market value and part of Europe top 3 banking companies, is one of the oldest foreign banks with a presence in India dating back to 1860. BNP Paribas Assurance is the fourth largest life insurance company in France, and a worldwide leader in Creditor insurance products offering protection to over 50 million clients. BNP Paribas Assurance operates in 41 countries mainly through the Bancassurance and partnership model.
th st th

in the banking

bank in Euro Zone as per Global 2000 Forbes 2008.

most valuable international banking brand as per Brand Finance


Multi-distribution Model
SBI Life has a unique multi-distribution model encompassing vibrant Bancassurance, Retail Agency, Institutional Alliances and Corporate Solutions distribution channels.

SBI Life extensively leverages the State Bank Group relationship as a platform for cross-selling insurance products along with its numerous banking product packages such as housing loans and personal loans. SBIs access to over 100 million accounts across the country provides a vibrant base for insurance penetration across every region and economic strata in the country, thus ensuring true financial inclusion. Agency Channel, comprising of the most productive force of over 68,000 Insurance Advisors, offers doorto-door insurance solutions to customers.



U S Roy (MD & CEO) SBI Life Insurance Co. Ltd.

Our company, with its unique brand and highly committed workforce, is determined to increase life insurance penetration and offer need-based solutions our citizens, enabling them to live life to the fullest.

I invite you to explore the several possibilities available for being an integral part of this dream, of one of the fastest growing life insurance companies in the country.

For customers, SBI Life a company of State Bank Group which is synonymous with trust for more than 200 years presents security for you and your loved ones through its range of innovative life insurance solutions. With the backing of the largest distribution network in the country of over 14,500 bank branches of State Bank and nearly 200 full-service offices of the company, you are always close to your trusted life insurer.


For prospective business partners, by associating with one of the largest financial brands in the country, SBI Life gives you a lucrative business opportunity to profit from serving millions of Indians. In terms of career opportunities, SBI Life presents its most valuable asset, its employees, a work environment which is a blend of security and excellence.

We seek opportunities to give qualified minority suppliers a chance to succeed. It benefits SBI LIFE and our communities. U S Roy MD & CEO SBI LIFE Insurance Co. Ltd.


Our Mission :
"To emerge as the leading company offering a comprehensive range of life insurance and pension products at competitive prices, ensuring high

standards of customer satisfaction and world class operating efficiency, and become a model life insurance company in India in the post liberalization period".

Our Values:

Trustworthiness Ambition Innovation Dynamism Excellence

Key Milestones
Financial Year 08-09: Bagged the coveted personal finance award-Outlook Money NDTV Profit best Life Insurer 2008. Ranked among global top three in terms of number of Million Dollar Round Table (MDRT) members.

17 CRISIL has reaffirmed its highest financial rating AAA/Stable to SBI Life. In 2007 SBI Life became the first life insurer in India to receive this rating from CRISIL, countrys leading rating agency.

Recently ICRA has assigned iAAA rating indicating highest claims paying ability to SBI Life Insurance.

Retains ISO 9001:2000 certificate for superior claim settlement process.

Financial Year 07 - 08: Rated as the The Most Trusted Private Life Insurer according to a survey conducted by Brand Equity in association with AC Nielsen ORG-MARG and the Economic Times Intelligence Bureau. Became first life insurer in India to receive the highest financial rating AAA from CRISIL, the countries best known rating agency in 2007. Ranked amongst global top five life insurance companies in the number of MDRT members. Forayed into micro insurance with the launch of Grameen Shakti in Bhubaneswar, Orissa for the economically underprivileged sections of society. Received ISO 9001: 2000 certification for superior claim settlement process. Became the only domestic life insurer to achieve CMMI Level 3 certification for IT processes and software development capabilities.


Financial Year 06-07:

Second consecutive year of Profitability. Leads Private Life Insurance Companies in Lives covered: 6.49 Million lives covered.

Financial Year 05-06:

Becomes the first Life Insurer to make Profits.






Horizon 11 Unit plus 11 Unit plus child plan Unit Plan Elite Smart Ulip

Horizon 11 Pension Unit Plus 11 Pensions Lifelong Pension Immediate Annuity



Money Back Sanjeevan Supreme


Swadhan Shield Keyman



Sudarshan Scholar ll Setubandhan


Cap Assure Gratuity Cap Assure Superannuation Cap Assure Leave Encashment Group Immediate Annuity SBI Life Golden Gratuity


Sampoorn Suraksha SBI Life Group Term Life Scheme In Lieu of EDLI


SBI Life Keyman Insurance



Dhanaraksha Plus SP Dhanaraksha plus LPPT Dhanaraksha plus RP


Nidhi Raksha RP


Grameen Shakti and Super Suraksh


Chapter II

Conceptual Framework

Consumer Behavior
Introduction: Think of the consumer first, if you would have the consumer think of you. The consumption pattern and the behavior of the consumer have been changing gradually. Since the last two decades we have seen many changes occurring in the attitude, perception, motivation, spending habits, purchase and post purchase behavior of the consumer. The consumer of 80s was austere and brought those things that were needed by him and the household. He was not very adventurous in spending habits. He had the restraint put on him by low income, the non-availability of products and traditional methods of buying. Most of these were for all the classes of consumers the upper or lower income groups. Even if they had the money and the willingness to buy, they could not purchase because of the limited choice of product, even after having booked the same a few year earlier. Under these conditions the entire definition of consumer behavior was put to limitation.

The behaviors of todays consumers are changed due to the economic liberalization and economic crisis. He does not have to buy sub quality and shoddy products. He can dictate his terms, and as somebody has rightly stated. The consumer is not only the king but also the queen, the prince and the princess. He cans from a plethora of brands, return the product if not approved. 26

Consumer behavior is rapidly growing discipline of study. It means more than just how person buys products. It is a complex & multinational process and reflects the totality of consumers decision with respect to acquisition, consumption and disposal activities. We as consumers exhibit very significant differences in our buying behavior and play an important role in local, national or international economic conditions. One of the very few aspects common to all of us is that we are all consumers and the reason for the business firm to come into being is the presence of consumer who have unfulfilled or partially fulfilled needs and wants. No matter whom we are urban or rural, male or female, young or old, rich or poor, educated or uneducated, believer or non-believer, or whatever we are all consumer. We consume or use on a regular basis food, shelter, clothing, education, entertainment, brooms, toothbrushes, vehicles, domestic help, healthcare and other services, necessities, comforts, luxuries, and ideas. Organization realizes that there marketing effectiveness in satisfying consumer needs and wants at profit depends on a deeper understanding of consumer behavior.

Consumer is the king

The consumer must always be at the center of the organizational process. Again, in the old economy, consumer experiences were often deemed secondary to take any decision. In the new economy, consumers are often asked to participate in decision-making.



A Consumer is one who purchases a product or service for a particular organization. One thing that we are all consumer, infect everybody in this world is a consumer. Everyday is our life we are buy and consuming an incredible variety of goods and services. However, we all have different tasks, like & dislike and adopt different patterns while making purchase decision. Each consumer is unique and this uniqueness is reflecting in competition behavior and pattern and process of purchase.

Consumers have been defined very strictly in terms of economic goods and services wherein a monitory exchange is involved. The term consumer is used for both personal consumers and organizational consumers and represents two different kinds of consuming entities.

Personal Consumer- The personal consumer buys good and services for his use or for household consumption or for just one member of the family. In all these instances, the goods are brought for final use, referred as end users or ultimate consumers.


Organizational consumer- The other category of consumer is the organizational consumers, which include profit and not-for-profit organizations. Government agencies and institutions (such as local or state government, schools and hospitals) buy products, equipment and services required for running these organizations.

Anyone who regularly makes purchases from a store or a company is termed as consumer of that store or the company. Thus a customer is typically defined in terms of specific store or company.


Consumer behavior can be defined as: Consumer behavior referred to as the study of when, why, how, where and what people do or do not buy products. Consumer behavior is a decision making process and physical activity engaged in while evaluating, acquiring, using and disposing of goods and services. We can also defined consumer behavior as the decision process and physical activity engaged in by individuals.

Consumer behavior is a complex, dynamic, multidimensional process and all decisions are based on assumption about consumer behavior. 29

Consumer decision process


A decision is the selection of an alternative out of the several numbers of alternatives available. It is only when there is two or more alternative available that there is the need to make a choice. In a field of consumer, we are only concern with situation in which the consumer has to take the purchase decision where there is a choice available.

The decision-making process consists of a series of steps, which the consumer undergoes. First of all, the decision is made to solve a problem of any kind. This may be the problem of creating a cool atmosphere in your home. For this, information search is carried out, to find how the cool atmosphere can be provided, e.g. by an air-conditioner or by a water-cooler. This leads to the evaluation of alternatives and a cost benefit analysis is made to decide which product and brand image will be suitable, and can take care of problem suitably and adequately. The constant use of the product leads to the satisfaction or dissatisfaction of the consumer, which leads to repeat purchases, or to the rejection of the product.



Consumers buying decision and consumption process of the product or services always take place in the context of some specific situation. Depending on the set of circumstances, consumers behavior may take any number of decisions.

Smart companies research the buying decision process involved in their producer category. They ask the consumer when they first became acquainted with the product category & brands, how they make their brand choice & how satisfied they are after the purchase.

The consumer thought five stages as shown in the figure. Clearly the buying process starts long before the actual purchase & has consequences long afterward.


Following model can represent the typical buying process:

Problem Recognition Information Search Evaluation of Alternatives Purchase Behavior Post-Purchase Action


1. Problem Recognition: Problem Recognition is the first stage of the long process of consumer decision-making and it is important for several reasons. Firstly it provides an initial clue as to why a buyer buys what he intends to. Secondly it gives a definite direction to his or her subsequent purchase behavior stages like information search and evaluation of alternatives. Finally it provides marketers with an immense scope for using their influence in how the buyers may or may not recognize their needs. Problem recognition is a perceived gap between existing and desired consumer position. Existing consumer position is how one feels presently about the product. Desired position is his expectation and anticipation about the product.

2. Information Search: Information search starts the moment a need is recognized. It is a deliberate attempt to gain appropriate knowledge of stores from where to purchase the goods is gained. Before making actual decision the consumer is inclined to search for more informations. These are the sources of consumer information divide into five groups: Personal sources- These include family, friends, neighbors & peergap. Commercial sources- Advertising, sales-persons, dealers, packaging & displays. Public sources- Mass media, consumers, rating organizations. Experiential sources- This refers to inspection of products or product trial like handling, examining and using the products. 33

Independent sources- It includes newspapers, magazines, journals, consumer reports and government agencies.

The company should identify the consumer information & evaluate their relative importance. It must also identify the other brands in consumer choice set, so that it can plan competitive appeals.

3. Evaluation of alternatives: There is no single evaluation process used by all consumers or by one consumer in all buying situation. Some consumer try to satisfy their need, some look for certain benefit from the product solution & the other sees each product as bundle of attributes with varying abilities for delivering the benefits to satisfy this need.

Consumer will pay the most attention to attributes that deliver the soughtafter benefits. The market for a product can often be segmented according to attributes that are important to different consumer groups.

BELIEFS AND ATTRIBUTESBelief is a descriptive thought that a person holds about something. Peoples beliefs about the attributes and benefits of a product or brand influence their buying decisions. Attitudes indicate knowledge, feelings and intended action for the given stimulus. An attitude provides a series of cues to marketers. They predict future purchases, redesign marketing effort and make attitude more favorable. 34

4. Purchase process or Purchase behavior of buyer: Purchase is very important as it generates revenue and dislikes of the consumer. Purchase is important to the marketer as the product was planned, produced, priced, promoted and distributed after a lot of effort. If purchase does not take place, the marketer is failed in his marketing effort. Purchase is important to the marketer for his success, for achieving his objectives and far formulating competitive strategies against the competitors. Similarly, the consumer pays money and expects certain benefits and satisfaction from the product. It marks the end of his search, end of his efforts and chooses the brands of his choice for expected benefits.

For consumer perspective, purchase action marks the end of their effort for an optimum brand choice, not only do they give up money in return for a product, but the choice of brand once made, also mean that they must depend on it alone for the delivery of expected benefits and satisfaction, at least until next purchase occasion.

Purchase decision is influenced by two major sets of forces. While the first set of forces relates to buying intention the second set comprises situational factors. Both factors exert a joint influence on the purchase process.

Buying intentions Purchase Situational factors


5. Post-Purchase Action

It is important to know whether consumer likes his product or not. He wants the feedback about his product so that corrective action, if necessary can be taken and the marketing mix are modified accordingly. Post purchase

behavior is the reaction of the consumer; it gives an idea of his likes and dislikes, preferences, attitudes and satisfaction towards the product.

After purchasing the product, the consumer will experience some level of satisfaction or dissatisfaction consumer will also engage in post purchase action. The consumers satisfaction or dissatisfaction





subsequent behavior, if the consumer is satisfied, he will exhibit a higher probability of purchasing the product again.


Changing perception of Indian customers

Indian Insurance consumers are like Indian Voters, they are soft but when time is right and ripe, they demand and seek necessary changes. De-tariff of many Insurance Products are the reflection of changing aspirations and growing demand of Indian consumers.

For historical years, Indian consumers were at receiving end. Insurance Product was underwritten and was practically forced onto consumers on a Take-it-As-it-basis. All that got changed with passage of IRDA act in 1999. New insurance companies have come into existence leading to open competition and hence better products for customers.

Indian customers have become very sensitive to Premium as well as the Products that are given to them. There are not ready to accept any product, no matter even if that is coming from the market leader, should that product is not serving the purpose. A case in point is ULIP Product in Life Insurance segment are new age Avatar. The which new are products putting are huge constantly pressures being on

demanded by

Indian consumers,

Insurance companies and Brokers to respond.



Indian customers






and insurance

products provided by companies. They have become more sensitive. They would not accept any type of insurance product unless it fulfills their

requirements and needs. In historic days customers looking at insurance products as a life cover which can provide security against any unacceptable events, but now customers look at insurance products as an investment as well as life cover. So todays customers wants good customers forms the return pivot from of the each



The Indian

companys strategy.

Investment of Indian household savings (as a % in different sector)



Changing face of Indian insurance industry

After the Insurance Regulatory and Development Authority Act have been passed there has been establishment of many private insurance companies in India. Previously there was a monopoly business for Life Insurance

Corporation of India (L.I.C.) who was the only life-insurance company for the people till 2000. L.I.C. still holds 71.4% of the market share in 2006. But after the introduction of private life insurance companies there is a great competition in Indian market now. Everyone is trying to capture the fresh market here and penetrate it with aggressive marketing strategies. Today life-insurance is not only limited up to just life risk cover and maturity period bonuses but changed to greater return from the investments. With the introduction of the unit-linked insurance policies these companies are

investing the money in different investment instruments like shares, bonds, debentures, government and other securities. People are demanding for

higher returns with the life risk cover and private companies are giving 3040% average growth per annum. These life-insurance companies have every kind of policies suiting every need right from financial needs of, marriage, giving birth and rearing up a child, his education, meeting daily financial needs of life, pension solutions after retirement. These companies have every aspects and needs of our life covered along with the death benefit.

39 In India only 25% of the population has life insurance. So Indian lifeinsurance market is the target market of all the companies who either want to extend or diversify their business. To tap the Indian market there has been










insurance companies to start up their business. The government of India has set up rules that no foreign insurance company can set up their business individually here and they have to tie up with an Indian company and this foreign insurance company can have an investment of only 24% of the total start-up investment.

Indian insurance industry can be featured by: Low market penetration. Ever growing middle class component in population. Growth of customers interest with an increasing demand for better insurance products. Application of information technology for business. Rebate from government in the form of tax incentives to be insured.

Today, the Indian life insurance industry has more than a dozen private players, each of which are making strides in raising awareness products and increasing the penetration levels, of life

introducing innovative

insurance in the vastly underinsured country. Several of private insurers have introduced attractive products to meet the needs of their target

customers and in line with their business objectives. The success of their effort is that they have captured over 28% of premium income in five years. 40

The biggest beneficiary of the competition among life insurers has been the customer. A wide range of products, customer focused service and

professional advice has become the mainstay of the industry, and the Indian customers forms the pivot of each companys strategy. Penetration of life insurance is beginning to cut across socio-economic classes and attract people who have never purchased insurance before.

Life insurance is also now being regarded as a versatile financial planning tool. Apart from the traditional term and saving insurance policies, industry has seen the entry and growth of unit-linked products. This provides market linked returns and is among the most flexible policies available today for investment. Now products are priced, flexible, and realistic and sustain so people in better position to understand the risk and benefits of the product and they are accepting these innovative products.

So it is clear that the face of life insurance in India is changing, but with the changes come a host of challenges and it is only the credible players with a long term vision and a robust business strategy that will survive. Whatever the developments, the future and the opportunities in this industry will surely be exciting.

41 The number of companies in Insurance particularly in Life Insurance has changed drastically now the number is in 22. List of them are mentioned as below:-

1. Bajaj Allianz Life Insurance 2. Birla Sun Life Insurance 3. HDFC Standard Life Insurance 4. ICICI Prudential Life Insurance 5. ING Vysya Life Insurance 6. Max New York Life Insurance 7. Met Life Insurance 8. Om Kotak Mahindra Life Insurance 9. SBI Life Insurance 10.TATA AIG Life Insurance 11.Reliance Life Insurance(AMP Sanmar AssuranceCo. Ltd.) 12.Dabur CGU Life Insurance 13.AVIVA Life Insurance 14.Sahara Life Insurance 15.Shriram Life Insurance 16.Bharti AXA Life Insurance 17.Future Generali Life 18.IDBI Forlis Life Insurance 19.Canara HSBC Oriental Bank Of Commerce 20. AEGON Religare Life Insurance 21.DLF Parameria Life Insurance 22.Star Union Dai-ichi Life Insurance 42

Possibilities for insurance companies in India:

Further deregulation of the market. Greater concern for the customers. Newer products and services. Competition and quality consciousness. Cost effective operations. Restructuring of the public sector. Consolidation of domestic insurance markets. Technology driven shift in product design. Actual operations and distribution. Convergence of financial services.

Various types of life insurance policies:

Endowment policies: This type of policy covers risk for a specified period, and at the end of the maturity sum assured is paid back to policyholder with the bonuses during the term of the policy.

Money back policies: This type of policy is for periodic payments of partial survival benefits during the term of the policy as long as the policy holder is alive.



insurance: This







protection under group policies to various groups such as employers

employees, professionals, co-operatives etc it also provides insurance coverage for people in certain approved occupations at the lowest possible premium cost.

Term life insurance policies:

This type of insurance covers risk only

during the selected term period. If the policyholder survives the term, risk cover comes to an end. These types of policies are for those people who are unable to pay larger premium required for endowment and whole life policies. No surrender, loan or paid up values are in such policies.

Whole life insurance policies: policyholder is alive and

This type of policy runs as long as the is covered for the entire life of the

policyholder. In this policy the insured amount payable only to nominee on the death of policyholder.

and the bonus is




policies: These





endowment policies in maturity benefits and risk cover, but joint life policies cover two lives simultaneously such as married couples. Sum assured is payable on the first death and again on the death of survival during the term of the policy.


Pension plan: a pension plan or annuity is an investment over a certain number of years but does not provide any life insurance cover. It offers a guaranteed income either for a life or certain period.

Unit linked insurance plan:

ULIP is a kind of insurance plan, which

provides life cover as well as return on premium paid over a certain period of time. The investment is denoted as units and represented by the value called as net asset value (NAV).

Different distribution channels in India:

A multi-channel strategy is better suited for the Indian market. Indian

insurance market is a combination of multiple markets. Each of the markets requires a different approach. Apart from geographical spread the sociocultural and economic segmentation of the market is very wide, exhibiting different traits and needs. Different multi-distribution channels in India are as follows:

Agents: Agents are the primary channels for distribution of insurance. The public and private sector insurance companies have their

branches in almost all parts of the country and have attracted local people to become their agents. Today's insurance agent has to know which product will appeal to the customer, and also know his


competitor's products to be an effective salesman who can sell his company, the product, and himself to the customer. To the average customer, every new company is the same. Perceptions about the public sector companies are also cemented in his mind. So an

insurance agent can play an important role to create a good image of company.

Banks: Banks in India are all pervasive, especially the public sector banks. Many insurance companies are selling their products through banks. Companies, which are bank, owned, they are selling their products through their parent bank. The public sector banks, with their vast branch networks, are helpful to insurance companies. This

channel of selling insurance is known as Bank assurance.



SBI Life State Bank of India, BNP Paribas ICICI Prudential ICICI Bank, Bank of India, Citibank, Allahabad Bank, Federal Bank, South Indian Bank, Punjab and Maharashtra Cooperative Bank Birla Sun Life Deutsche Bank, Citibank, Bank of Rajasthan, Andhra Bank ING Vysya Bank Vysya Bank Aviva Life Insurance ABN Amro Bank, Canara Bank HDFC Standard Life HDFC Bank, Union Bank, Indian Met Life Bank Karnataka Bank, J&K Bank Source: Hindu Business Line Brokers: Now a days different financial institution are selling

insurance. These financial institutions are known as brokers. They are taking some underwriting charges from the insurance companies to sell their insurance products.



agents: Corporate

agency is



type of

channel. Insurance companies tie-up with business houses in other industries to sell insurance either to their employees or their

customers. Insurance industry, during the past 2 years has witnessed a number of such strategic tie-ups and alliances. Corporate agents have become a major force to reckon with in distributing insurance

products. Such as- Bajaj Allianz tied up with Maruti Udyog and Ford for auto insurance and Tata AIG life has tied up with Tata tea, Khaitans Williamson major and bridge foundation for selling rural policies.

Internet: In this technological world Internet is also a channel of selling insurance. This can be as direct marketing.



Now the Indian consumer is knowledgeable and sensitive. Consumers are increasingly more aware and are actively managing their financial affairs. People are increasingly looking not just at products, but also at integrated financial solutions that can offer stability of returns along with total

protection. In view of this, the insurance managers need to understand more about the details that go into the introduction of insurance products to make it attractive in this competitive market. So now days an insurance manager requires leadership, commitment, creativity, and flexibility. "Every family in every village in the country should feel safe and secure". This vision alone will help to bring the new ideas to the insurance manager.










influence the unit mangers to make decisions. Performance of insurance company depends on the effectiveness of such policies. Insurance

corporations formulate and revise these policies from time to time to ensure that the performance of the managers is best for the organization.

In the competitive market, insurance companies are being forced to adopt a strictly professional approach in marketing. The insurance companies face the challenge of changing the uninspiring public image of the industry.

49 Some of the important marketing elements are-

Marketing mix.

The importance of relationship. Positioning. Value addition. Segmentation. Branding. Insuring service quality. Effective pricing. Customer satisfaction research.

The growth of insurance sector is governed largely by factors external to it. The following factors influence the market and demand of product-

Government policies. Growth in population. Changing age profile. Income wise distribution of the population. Level of insurance awareness. The pricing of the policies. The economic climate of the country. The aversion to risk. Social and political features of the country. Growth scenario in the world. 50

Different companies adopt different approaches in their marketing strategies. One approach is focus upon product quality, which can give confidence in

the mind of customers that they are offered by best-featured products. And other approach is focusing on customers needs, which involve a heavy investment in developing relationships with policyholders. Under this

approach customer can expect a range of products and service offered to him. Third approach is market segmentation under which the population can be divided into several homogeneous products and groups, the effort should be tie clients to the company by customized combination of coverage, easy payment plans, risk management advice, and convenient and quick claim handling.











1. Core product:

In insurance industry the core product is the policy

that provides protection to the customers.

2. Expected product: Because of competition customers start to expect

more from an insurance product. Then insurance companies provide some tangible attributes in their product to differentiate from

competitors, such as-

Brand Some additional features in existing product By providing instruction manual with the policy

3. Augmented product: An insurance company can provide different

types of services to differentiate their products Post-sales services. Branches in different places for customers. Customer complaint management. Payment option convenient to customers.


The entry of private players and their foreign partners has given domestic players a tough time, because the opening up of the sector has not brought in only foreign players, but also professional techniques and technologies. The present scene in India is such that everyone is trying to put in the best efforts. There are marketing strategies more for survival than growth. But the most important gift of privatization is the introduction of customeroriented services. Utmost care is being taken to maximize customer










important functions:

Identification of markets:

Identification of markets means need to

understand the trends in culture and businesses constantly, through conducting research and analysis. Insurance companies can take this job on their own or assign it to an external agency. Relying on an external agency can be risky due to the questionable loyalty of the agents.

Assessment of risks and estimation of losses:

Efficiency of actuaries

and assessors of the insurance policies in fixing premiums and settling claims is foremost an important area for achieving overall efficiency

in operations. The quality of assessing the risk and estimation of losses has the largest claim company. Well-trained, the operations. 53 on the performance of an insurance

experienced and expert hands are needed for

Penetration into and exploitation of markets: exploitation of a company can be

Market penetration or

identified with the growth in

number of policies in each type of insurance, growth rate in earnings or turnover, companys market share, increase in number of branches and divisions etc. Efforts of the company as a whole and that of the divisions and branches are assessed to measure the effectiveness.






Control costs:


resources such as men, machines, and materials at each level of the organization provide measures of efficiency of a unit as well as the organization. separately Investment the control and of expense control are dealt at





various levels is to be assessed separately.

To find best prospects:

Allocating marketing strategies against market potential. Estimating potential for specific products within local markets. Identifying high opportunity areas. Measuring agency performance relative to market potential. Optimizing your agency network against market potential.


Attributes to develop marketing strategies:

Channel data: - Useful to know future buying preferences, learning about products and purchase channels.

Consumer attitudes.

Consumption data: - Useful to evaluate annual premiums, number of annuities owned, value of annuities, and with which company the current policy is held.

Effective Strategies for Insurance Agents:

Learn how to construct a mental image for success. Learn how to find a proper perspective and how to turn off all the signals that cause people not to buy from you. Learn how to get and set more appointments. Learn how to convert a new lead into sales. Learn how to act when you meet a client for the first time. Learn how the orders in which you explain the types of policies can double your income. Take Easy steps to avoid delays in issuing policies.



Since the tribe of life insurers has grown from 12 to 16, but SBI still leads the private sector pack. SBI life is the Ranks among Global Top Three at Million Dollar Round Table. Their strategy has been to grow the portfolio large enough so that there is an in-built hedge and in a market where the portfolio has a larger element of savings rather than protection, this works well. And to make sure they can grow the business, they have built a distribution network.

Product innovation is a focus area for them. To stay relevant to the consumer they work hard for innovating and developing new products. The insurer is fortunate to have the strength of the SBI Bank brand behind it; that went a long way in instilling confidence in customers that the brand was trustworthy a very important attribute in insurance and would be there for the long-term. Even today after it has rolled out so many campaigns, SBI remains among the most trusted brand.

SBI Life is fundamentally strong and the prospect of meeting its policyholder's obligations as highest. 56

Minimum premium for single term is 40000 which is very high.

We dont have any plan for senior citizens. Customer cannot withdraw amount before 3years this is the main reason people believe in mutual funds for short-term investment. Allocation charges are very high.

Product awareness.

Very less branches. Less awareness about SBI Life insurance in rural areas.

SBI life is still dont have reach in rural place. LIC of India does maximum business from rural areas.


Market is booming. Insurance companies are fast emerging as one of the most prominent players in the govt. securities market. Lack of awareness about insurance is one of major opportunity for SBI Life Insurance. It can create market for itself by making masses aware about insurance and its need. Policies of govt. of India are favorable for the growth of the company.

Capital requirement for setting up a life insurance company is very high. The intensity of rivalry among private players is very high. Increased competition in the insurance sector.

The insurance sector remains a very competitive market and those companies that are able to best utilize their data and provide their customer with the nearly all personalized options will have the distinct competitive advantage. The insurers that come up to the top will be those who leverage the appropriate.

Indian people still not believe in private insurance companies so generate new business is very difficult for new insurance Company.

Chapter IV

Research Methodology

Research is a matter of gathering information from varying sources usually in relation to a specific topic and for a specific purpose. The definition of research includes any gathering of data, information and facts for the advancement of knowledge.


Effective analysis of Consumer behavior towards Investment Plans & Products of SBI Life Insurance, Kota

A research design is the arrangement of condition for collection & analysis of data in a manner that aims to combine relevance to the research purpose with economy in procedure. In fact the research design conceptual structure with in research is conducted.



The type of research that is used in this research is descriptive research. It is a research where specific predictions are made; the percentage of units in a specified population exhibiting a certain behavior is measured. The characteristics of relevant groups is described the degree to which market variables are associated is determined and to determine the perception of product characteristics.


Data constitutes the subject matter of analysis. One cannot draw inferences without analyzing data. The relevance, adequacy and reliability of data determine the quality of the study. Data is primarily of two kinds 1. Primary data 2. Secondary data

Primary data
The primary data are data, which are being collected by the researcher for the specific purpose of answering the problem on hand. Individual respondents, doctors, lecturers, jewelers, saloons were personally visited and interviewed. They were the main source of Primary data. The method of

collection of primary data was direct personal interview through a structured questionnaire.

Secondary data
Literature study and the articles are obtaining secondary data from the Internet. The secondary data was collected on the basis of organizational file, official records, news papers, magazines, management books, preserved information in the companys database and website of the company.


Procedure by which some members of a population are selected as representative of the entire population The sub-group thus selected to represent the whole population is known as SAMPLE

Sampling methods

Probability sampling Non-probability sampling 1. Simple random method 2. Systematic sampling 3. Stratified sampling 4. Cluster sampling 5. Multi-stage sampling 1. Accidental sampling 2. Voluntary sampling 3. Purposive sampling 4. Quota sampling 5. Convenience sampling

Convenience sampling
It is used in exploratory research where the researcher is interested in getting an inexpensive approximation of the truth. As the name implies, the sample is selected because they are convenient. This non-probability method is often used during preliminary research efforts to get a gross estimate of the results, without incurring the cost or time required to select a random sample. 62

A procedure or plan drawn up before any data is collected to obtain a sample from a given population. It is also known as sampling plan or survey design.

Research is a diligent and systematic inquiry or investigation into a subject in order to discover or revise facts, theories, applications, etc. Methodology is the system of methods followed by particular discipline. Thus research methodology is the way on we conducts our research.

Universe -


Unit - SBI Life Insurance Co.

Sample size - 30

Data source - Survey

Method - Convenience Sampling

Instrument - Questionnaire


Proper understanding and analysis of life insurance industry.

To know about brand awareness of SBI Life Insurance and customers preference about SBI Life Insurance.










population and derive opinion on that research.

To offer suggestions based upon findings.




Q1. Are you aware about SBI Life Insurance?

75% people aware about SBI Life Insurance.

25% people not aware about SBI Life Insurance.


Q2. Do you have any account in SBI Bank?

30% people have account in SBI Bank. 70% people dont have account in SBI Bank.


Q3(A). Do you have any investment plans of SBI Life Insurance?

37% people have investment plans of SBI Life Insurance like Unit Plus III,Smart ULIP, Pension Plan and Child Plan.

63% people not have investment plans of SBI Life Insurance.


Q 3(B). Are you satisfied with the plans of SBI Life?

83% people are satisfied with the plans of SBI Life due to Effective services, Guarantee, good brand image,nice features,attractive plans,etc.

17% people are not satisfied with the plans of SBI Life due to block of money.


4. Have you invested in any other life insurance company other than SBI Life?

80% people have already invested in other Life Insurance company like LIC, ICICI, Reliance Life Insurance, Bajaj Life Insurance and Birla Life Insurance.

20% people not invested in any other Life insurance company.


5. Do you want to take any investment plan of SBI Life if you find it better?

87% people want to take investment plan of SBI Life when they find it better. 13% people dont want to take investment plan of SBI Life even when they find it better.


6. What do you think are the benefits of Life Insurance?

17% People thought that Life Insurance.

Covers future uncertainty is the benefit of

13% People thought Tax Saving as benefit of Life Insurance.

3% People thought Investment as benefit of Life Insurance.

67% People thought all the above as benefit of Life Insurance.


7. Which feature of Life Insurance policy will you consider while buying?

0% people judge investment plans with

premium .

7% people judge investment plans with

Guarantee .

7% people judge investment plans with

Returns .

3% people judge investment plans with

Brand Image .

33% people judge investment plans with

above all features .


8. According to you, what is the right age to buy insurance?

10% People thought less than 25 years is the right age to buy insurance.

50% People thought 25 35 years is the right age.

17% People thought 35- 45 years is the right age.

17% People thought > 45 years is the right age.

6% People thought one can buy insurance at Anytime.




During the data collected, it has been found that people have great awareness about SBI Life Insurance.

People are beginning to look beyond LIC for their insurance needs and are willing to trust private players with their hard earned money.

People in general insurance

have A

been influenced by the marketing activities of high penetration of print, radio and TV ad


campaigns over the years is beginning to have its impact now.

Another important trend was in terms of people viewing insurance as a tax saving and investment instrument as much as protective one.

The general satisfaction levels among public with regards to policy and agents still requires improvement. Here lies the opportunity for a relatively new comer like SBI Life Insurance. LIC has never been known for prompt service or customer oriented methods but SBI Life Insurance can build its reputation based on these factors.

37% out of 75% people those who are aware about SBI Life Insurance have investment plans of it.


25% people not aware about SBI Life Insurance, hence they invested in other Life Insurance Company.

83% out of 37% people those who have SBI Life Insurance investment plans are very satisfied with these plans because of good services, returns,

guarantee, brand image, premium, nice features, attractive plans etc. 70% of the people those who dont have account in SBI Bank think that they cant take investment plans of SBI Life Isurance.




that Covers






investment are some of the benefits of Life Insurance

People are interested in those plans that give maximum profit in short term.





Marketing in terms of the media via advertisements on Television to small commercials on FM, hoardings and signage etc. has to be made because there were respondents who havent even heard about SBI Life Insurance. Awareness camp for sub-urban area should be focused. State and Central Government employees should be targeted because of reasons like: They dont have Life Insurance cover other than that provided by their respective employers and LIC. Most of them are underinsured. They have a stable source of income and social security. SBI Life Insurance must build its reputation by focusing on service quality. Better service quality. Better service quality may be in the form: Issuing policy in time. Providing claims in time. Making customers aware about their status of policy. SBI Life Insurance must introduce such kind of policies which will give maximum profits in short term period.



QUESTIONNAIRE To find out the perception of the persons about SBI Life Insurance
Dear Respondent

We the student of cerebral business school , are conducting an analysis on SBI Life Insurance plans and products . We were highly appreciated and also will be thankful if you could help us by providing your valuable remarks on following questions. We assure you of confidentiality of the input you provide to us.

Name of Respondent: __________________________________________

Age: _________________________________________________________

Address: _____________________________________________________

Contact No.: __________________________________________________

Q 1. Are you aware about SBI Life Insurance? Yes No

Q 2. Do you have any account in SBI Bank? Yes No

Q 3(A). Do you have any investment plans of SBI Life Insurance? Yes If yes then mention the plan name: No

_________________________________________________________________ _

Q 3(B). Are you satisfied with the plans of SBI Life?

Yes If yes then why?



Q 4. Have you invested in any other life insurance company other than SBI Life? Yes No

If yes then mention the company name:

_________________________________________________________________ _

Q 5. Do you want to take any investment plan of SBI Life if you find it Better?



Q 6. What do you think are the benefits of Life Insurance?

Covers future uncertainty Tax Savings Investments All

Q 7. Which feature of Life Insurance policy will you consider while buying? Premium Guarantee


Brand Name


Q 8. According to you, what is the right age to buy insurance? < 25 years 35- 45 years Anytime 25 35 years > 45 years

Q 9. Feedback & Suggestions for SBI Life?




Kothari C.R Research methodology Methods and Techniques Sixteen edition Vishwa Prakashhan

Balachandran .S Life Insurance (New Syllabus)

M.J. Mathew Insurance (Principles & Practices)

SBI Advisor Kit Brochures Annual Report Hindu Business Line